Sonic Labs Raising $150M U.S. Expansion: Includes ETF, NASDAQ PIPE, and New NYC Office
Sonic Labs gets a landslide vote for a $150 million growth burst in the US capital markets. The plan aims to introduce new types of financial products, establish a U.S. branch, and conduct deflationary airdrops to stimulate token appreciation.
What This Means for Sonic – And Wall Street
Sonic Labs is launching a $50 million exchange-traded fund (ETF) via a market-leading provider with an AUM of $10 billion+. This means that investors will have direct exposure to Sonic’s native token, S, without actually owning it.
Alongside is $100 million, which is targeted at a NASDAQ PIPE vehicle (private investment in public equity), which would lock tokens for a three-year period to ensure long-term commitment. These ambitious moves set Sonic up as a player in mainstream finance, spanning the crypto and traditional worlds.
Sonic USA LLC: The New Frontier
Sonic will start Sonic USA LLC, based out of New York City, adding a CEO and a full U.S. team. This arm will spearhead compliance regulation, institutionality alliances, and market penetration in Washington, D.C. and beyond.
Funding of a total of 150 million tokens implicitly marks the first-ever serious attempt to conduct such a move by Sonic – an undertaking needed to play on more equal terms with its Wall Street rivals.
Tokenomics Re-imagine: Burning Bright
In addition, the proposal also includes a change to the tokenomics, which includes a new gas fee mechanism that burns a percentage of tokens, making inflation low over time. This may make it sparser and drive up the value of tokens, drawing institutional attention.
Sonic Labs emphasized the past challenge of competing without any meaningful token reserves. This proposal fills in that gap, allowing for Sonic to effectively run on deals and at an origin level, targeting high profiles.
Community Overwhelmingly Backs Proposal
On Snapshot, 860 million S tokens voted, overwhelmingly approving the proposal with 99.99% support and surpassing the 700 million quorum required. The community rejected the idea of staying anchored to the old 2018 tokenomics and ushered in a new era for Sonic Labs with a new focus on speed, security, and market agility.
